Rotten AAPL

I don’t think this is the apple a day your doctor ordered.

This is AAPL in blue, versus QQQ (Nasdaq 100) and SPY (S&P 500). This is what happens when the structure of an index is based on the market capitalization. It explains why people have believed that the market was so healthy over the past decade. AAPL (and MSFT and GOOGL) have levitated the entirety.

That’s fine, and well, until the flip side occurs. Oh wait, seems like you have been shown that somewhere.